CASH ON CASH
11604 Amargosa Road | Victorville, CA
Marcus & Millichap has been selected to exclusively represent the sale of Restaurant Row in Victorville, California, a portfolio of category-leading National and Regional restaurants. The subject property is an 11,300 square foot newly constructed inline retail pad sitting on a 2.24-acre parcel. The real estate is well positioned in the trade area, located adjacent to the I-15 Freeway and Bear Valley Road on and off ramps. Fronting both Amargosa Road and the I-15 freeway, the property has excellent identity and traffic exposure. Traffic counts exceed 98,000 cars per day on the I-15 and 52,000 cars at Bear Valley and I-15. The location is prime in the trade area as evidenced by the new development that includes a 75 room Hawthorn Suites by Wyndham, Super Walmart, Kohl’s, Lowes Home Improvement, and a planned Home Goods, TJ Maxx, 24 Hour Fitness, as well as an additional 79 room Best Western Plus.
The tenant roster is a synergistic mix of restaurants consisting of Starbucks Coffee, Nekter Juice Bar, Which Wich Sandwiches, Pieology Pizza, Ono Hawaiian Barbeque, and Café Rio Mexican Grill. Access points and drive aisles provide excellent ingress and egress from the Hawthorn Suites by Wyndham, Walmart, and Kohls for easy access to all of the restaurants. 76% of the leasable area (4 of 6 tenants) have corporate signature absolute net leases. The remaining two tenants are strong franchisees with excellent operational histories and personal rent guarantees. The investment provides annual rent growth with increasing cash flow and yield, protecting against inflation with a diversified base of strong restaurant tenants. The Quick Serve building is a category that was missing from Restaurant Row. It helps to provide additional choices, making this the main stop for the trade area and freeway traffic.
New Construction with Warranties
New 10 Year NNN Corporate Leases
Annual Rent Growth
Ease of Management Property
Explosive Trade Area Growth
Average Household Income: $76,267 Within a One Mile Radius
New Proposed Hospital on Amargosa